Similar Search Results

The Relationship between External and Internal Performance Measures of the Firm : A Panel Cointegration Approach

Mouelhi, Chawki - 2011

This article uses the recent developments in the econometrics of non-stationary dynamic panel data to re-examine the relationship between external and internal performance measures of the firm. A sample of 420 U.S. firms over the period (1990-2004) is used in the empirical analysis. In addition,...

Persistent link: https://www.econbiz.de/10013132485

Tradable Block Ownership, Liquidity and Threat of Exit

Ding, Mingfa - 2019

Large shareholders may affect managerial decisions through the threat of selling their holdings and thereby negatively influencing price. The split-share structure of Chinese corporate ownership imposes restrictions on ownership and shares trading. Using these institutional features, we test the...

Persistent link: https://www.econbiz.de/10012895522

Debt maturity choices, multi-stage investments and financing constraints

Agliardi, Elettra; Koussis, Nicos - 2014

We develop a dynamic investment options framework with optimal capital structure and analyze the effect of debt maturity. We find that in the absence of financing constraints short-term debt maximizes firm value. In contrast with most literature results, in the absence of constraints, higher...

Persistent link: https://www.econbiz.de/10011716006

Input Hedging, Output Hedging, and Market Power

De Angelis, David - 2016

We argue that commodity input hedging is different from commodity output hedging. Output hedging can be detrimental to … prices. In rational markets such hedging will be expensive and we expect to see a negative relationship between hedging and … currency hedging. Finally, our empirical framework, which differentiates between hedging inputs and hedging outputs, can also …

Persistent link: https://www.econbiz.de/10013008765